Iron & Steel Erection workers comp rate in Virginia
The filed workers comp rate for class code 5040 (Iron & Steel Erection) in Virginia is $2.89 per $100 of payroll , effective 2026-04-01. On $500,000 of payroll, that's roughly $14,440 in base premium.
Rate per $100 $2.89
Rate type loss_cost
Authority National Council on Compensation
Effective 2026-04-01
vs peers 23%
Confidence HIGH
FAQ
What is the workers comp rate for code 5040 in Virginia?
The filed workers comp loss cost / rate for NCCI class code 5040 (Iron & Steel Erection) in Virginia is $2.89 per $100 of payroll, effective 2026-04-01.
How much would I pay in Virginia for code 5040 on $500,000 of payroll?
At $2.89 per $100, $500,000 of payroll yields a base premium of $14,440 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 5040?
UT has the cheapest filed rate for code 5040 ($0.930) and IL the highest ($12.83). Virginia sits at the 23th percentile across 22 peer states.